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Judgment
11 paragraphs · 194 wordsJyoti Singh, J
IA No. 12397/2019
Exemption allowed, subject to all just exceptions.
The application stands disposed of.
O.M.P.(MISC.)(COMM.) 358/2019
This is a petition under Section 29A of the Arbitration & Conciliation Act, 1996, seeking extension of time for completion of the arbitral proceedings and passing of the award.
The Arbitral Tribunal had entered upon reference on 14.03.2018. The statutory period of 12 months for making the award elapsed on 13.03.2019.
With the consent of the parties by an order dated 04.05.2019, the time was extended by six months from 13.03.2019. The extended time is expiring on 13.09.2019.
By a letter dated 23.08.2019, both parties have consented to apply for extension of time before this court. It is jointly submitted by the parties that the proceedings are at the stage of evidence, which is about to conclude and therefore the time be extended.
For the reasons stated in the petition, the petition is allowed. The time for completion of the arbitral proceedings and passing of the award is extended by a period of six months from 13.09.2019.
The petition is disposed of in the above terms.